New tax rate would reach assets over $ 2.5 million and face resistance among Republicans in Congress
United States President Donald Trump (Republican Party) wants to increase taxes on fortunes over $ 2.5 million in the United States. The current rate is 37% and the Repullican wants to raise it to 39.6%.
According to the American newspaper Financial TimesTrump’s proposal represents a breach of tradition among Republicans. The amount collected would be used to finance broader tax reductions.
“This would help to fund masses of massive taxes for the middle and working classes and protect the medicine”Said an interlocutor near negotiations to the newspaper. Medicaid is a health financing program for low -income families.
The measure is criticized by groups linked to the right of the US, who believe that the taxation of the richest is a democratic policy.
O Financial Times Explains that Trump’s proposal is made when Congress and the White House try to accelerate the approval of a tax package that would expand Trump tax cuts in 2017 and expire in 2026.
The expansion of the fiscal package is one of the priorities in the economic sector to the Republican, but was overshadowed by the implementation of the 185 countries and economic blocs, sanctioned in April and that caused a commercial war on a global scale.
Among Republicans, there is some distrust of how to pay for tax cuts, as well as other measures included in the tax package. Trump also signaled that it can end the preferential tax treatment that has the profits of hedge e private equityas it would represent a hard blow against Wall Street.
Another measure that can be included in the package is the increase of “Salt limit”, Which would enable the deduction of up to US $ 30,000 of state and local taxes in tax debts by real estate owners. The current limit is US $ 10,000 and was established precisely in Trump’s 2017 tax package.
